Brokerages Set Akebia Therapeutics Inc (AKBA) PT at $21.50

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Shares of Akebia Therapeutics Inc (NASDAQ:AKBA) have received an average rating of “Buy” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $21.50.

AKBA has been the topic of several analyst reports. Zacks Investment Research cut Akebia Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. ValuEngine upgraded Akebia Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. BidaskClub upgraded Akebia Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, October 13th. Royal Bank of Canada reiterated a “hold” rating and issued a $13.00 target price on shares of Akebia Therapeutics in a report on Thursday, August 9th. Finally, Morgan Stanley initiated coverage on Akebia Therapeutics in a report on Friday, September 7th. They issued a “weight” rating on the stock.

NASDAQ:AKBA opened at $7.65 on Friday. Akebia Therapeutics has a 1-year low of $7.32 and a 1-year high of $18.39.

Akebia Therapeutics (NASDAQ:AKBA) last released its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.09). Akebia Therapeutics had a negative return on equity of 46.95% and a negative net margin of 30.60%. The firm had revenue of $48.79 million for the quarter, compared to the consensus estimate of $48.75 million. As a group, equities research analysts predict that Akebia Therapeutics will post -2.7 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in AKBA. Verition Fund Management LLC bought a new stake in Akebia Therapeutics in the first quarter valued at approximately $131,000. Cubist Systematic Strategies LLC bought a new position in shares of Akebia Therapeutics during the 1st quarter worth approximately $158,000. Sun Life Financial INC bought a new position in shares of Akebia Therapeutics during the 2nd quarter worth approximately $193,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Akebia Therapeutics by 46.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 20,759 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 6,578 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Akebia Therapeutics during the 1st quarter worth approximately $243,000. Institutional investors and hedge funds own 75.57% of the company’s stock.

Akebia Therapeutics Company Profile

Akebia Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for patients with renal disease through hypoxia-inducible factor (HIF) biology. Its lead product candidate is vadadustat, an oral therapy, which is in Phase III development for the treatment of anemia due to chronic kidney disease in dialysis and non-dialysis patients.

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Analyst Recommendations for Akebia Therapeutics (NASDAQ:AKBA)

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